Does this combination enable speed 5 squadrons? The timing of it is a bit questionable. "Each squadron you activate may increase its speed to 4 until the end of its activation." & "[..] the speed of each squadron that a friendly ship activates is increased by 1 to a maximum of 5, until the end of that squadron's activation."
There's doesn't appear to be a clear order of operations here, both are simply triggered on a squadron being activated by a ship. So either All Fighters bumps up towards a limit of 4, or you raise the speed to 4 and then add 1 from All Fighters.